Analysts: Bitcoin volatility has decreased to the lowest for the year

Bitcoin has been trading in a narrow horizontal channel since early May, and the ten-day volatility of the firstcryptocurrencies fell to a minimum for the year. Analysts expect a big BTC move.

According to the Skew analytic platform, on thisweekly, the volatility of the BTC / USD pair decreased by 30%, and the thirty-day volatility decreased by 57%. Approximately the same level of volatility was observed before the cryptocurrency market fell in March.

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Bollinger Bands Width indicator representingthe current volatility in numbers, is at around 0.08 - the lowest level since April 1 of this year. Analysts believe that the market is growing stress, and traders began to trade much more carefully.

“On the Bitcoin chart you can see the extremelow volatility, which means you need to exercise maximum caution. The price could fall powerfully, at least if the rate does not return above $9,800,” writes one of the analysts on the social network Twitter.

Note that on Wednesday the rate of the first cryptocurrency fell for a while below $ 9,000, but then returned to $ 9,300. At the time of publication of the article, BTC is trading at $ 9,150.

Recently billionaire and founder of Galaxy DigitalMichael Novogratz confirmed his forecast for the price of Bitcoin at $20,000. At the same time, he expects an increase in the rate of the first cryptocurrency in the near future.

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